I just want to complain about FedLoan Servicing, the corporation that manages my student loans. Recently, they took over a student loan I had that the Department of Education had bought.

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I must admit that they are dreadful now that they are handling my student loans. With Sallie Mae, where I have another student loan, there is a striking improvement in both usability and customer service.

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Here is my experience with FedLoan Servicing and why I believe it to be a scam (this is an opinion - they are a legit loan servicing company, but they have terrible customer service).

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The Department of Education has hired FedLoan Servicing as its student loan servicing provider to manage their loans. 

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This means that they handle all aspects of loan servicing and customer service, including processing payments, issuing statements, responding to inquiries, and more.

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One of the biggest companies for managing student loans is FedLoan, and they handle ALL applications for public service loan forgiveness.

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However, they made the announcement that they would no longer service Federal student loans in 2021. We'll have to wait and see what that implies for borrowers.

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You should keep in mind that when dealing with them, you are probably chatting to a low-wage call center employee who has no personal stake in your wellbeing or financial stability.

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You should therefore familiarize yourself with your student loans, be aware of your options, and steer the conversation in the way you believe to be appropriate.

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Check out your FedLoan Student Loans directly on their website for the most accurate information:

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